Bank Alfalah Limited’s financial results for the half year ended 30th June 2011

Bank Alfalah Limited’s financial results for the half year ended 30th June 2011

Karachi: We have to inform you that the Board of Directors of our Bank in their meeting held on 7th August 2011 at 09:30 PM (UAE time) at Abu Dhabi recommended the following:

 

(i) Cash Dividend Nil
(ii) Bonus Shares Nil
(iii) Right Shares Nil
(iv) Any other Entitlement/ Corporate Action Nil
(v) Any other Price – Sensitive Information Nil

 

The financial results of the Bank as on 30th June 2011 are enclosed as Annexure “A”.

Bank Alfalah Limited

Condensed Interim Profit and Loss Account (Un-Audited)

For the Quarter and Half year ended June 30, 2011

 

Quarter

ended

Half year

ended

Quarter

ended

Half year

ended

(Rupees in ‘000)

Mark-up/ return/ interest earned 10,682,150 21,376,629 9,272,866 18,497,466
Mark-up/ return/ interest expensed 6,292,380 12,539,860 5,928,410 12,175,760
———- ———- ———- ———-
Net mark-up/ interest income 4,389,770 8,836,769 3,344,456 6,321,706
(Reversal)/ provision against loans and advances – net (332,943) 346,277 552,054 862,184
Provision for diminution in value of investments 1,089,050 1,314,796 81,065 81,065
Bad debts written-off directly 1,680 2,687 18,406 20,184
———- ———- ———- ———-
757,787 1,663,760 651,525 963,433
———- ———- ———- ———-
Net mark-up/ interest income after provisions 3,631,983 7,173,009 2,692,931 5,358,273
Non mark-up/ interest income
Fee, commission and brokerage income 574,676 1,149,331 546,338 962,264
Dividend income 21,169 66,301 38,655 107,385
Income from dealing in foreign currencies 456,061 637,466 251,502 487,509
Gain on sale of securities – net 38,306 73,701 39,088 77,442
Unrealized loss on revaluation of investments
Classified as held for trading (13,903) (12,839) (5,388) (2,361)
Other income 424,810 834,578 333,154 605,494
———- ———- ———- ———-
Total non mark-up / interest income 1,501,119 2,748,538 1,203,349 2,237,733
———- ———- ———- ———-
5,133,102 9,921,547 3,896,280 7,596,006
Non mark-up/ interest expenses
Administrative expenses 3,452,720 6,772,217 3,116,212 5,949,783
Provision against off- balance sheet obligations 2,200 3,141 570 1,933
Other charges 43,030 71,870 31,928 48,061
———- ———- ———- ———-
Total non mark-up / interest expenses 3,497,950 6,847,228 3,147,710 5,999,777
———- ———- ———- ———-
1,635,152 3,074,319 748,570 1,596,229
Extra ordinary/ unusual items
———- ———- ———- ———-
Profit before taxation 1,635,152 3,074,319 748,570 1,596,229
Taxation
– Current Period 1,002,835 1,308,562 621,202 800,300
– Prior years 15,000 15,000 (12,000)
– Deferred (361,498) (157,735) (364,800) (270,728)
———- ———- ———- ———-
656,337 1,166,827 256,402 517,572
———- ———- ———- ———-
Profit after taxation 978,815 1,908,492 492,168 1,078,657
———- ———- ———- ———-
Basic and diluted earnings per share 0.72 1.41 0.36 0.80

 

 

For more information, contact:
Hamid Ashraf
Company Secretary
Bank Alfalah Limited
B.A. Building I.I. Chundrigar Road,
Karachi – Pakistan.
UAN: +9221 111-777-786
Tel: +9221 2414030
Fax: +9221 2411151
Web: www.bankalfalah.com

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